Summary: H.R.699 — 117th Congress (2021-2022)All Information (Except Text)

There is one summary for H.R.699. Bill summaries are authored by CRS.

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Introduced in House (02/02/2021)

Mutual Fund Litigation Reform Act

This bill specifies burden-of-proof and complaint requirements with respect to certain actions for breach of fiduciary duty against an investment adviser. Specifically, complaints must state certain facts with particularity, and a security holder has the burden of proving a breach of fiduciary duty by clear and convincing evidence.